Assessments

I.Audit of Inventory
1. Requirement 1 – Assignment
a.Students identifying the procedures to test each audit assertions
b.Students to evaluate internal control of hypothetical company
(found in textbook)
2.Requirement 2 – Practice Set Requirement
Students to prepare an audit program on inventories for Grace Corporation .
Based on this book :
Ma. Elenita Cabrera and Solita A. Frias. Practice Set in Practical Auditing (2019-).GIC
Enterprises & Co., Inc.
3. Requirement 3 – Reaction Paper
Make a reaction paper
Reading material :
Sikka, P. (2020, January 23). Why didn’t auditors spot Ted Baker’s overstated
inventory? Left Foot Forward: Leading the UK’s Progressive Debate.
II. Audit of Property , Plant and Equipment
1. Requirement – Assignment
a.preparation of adjusting entries – problems shall be posted via schoology
b.Students will describe the substantive procedures that should be perform to confirm PPE’s
addition based on Garcia International Company Hypothetical Case(found in textbook)
2.Requirement 2 – Practice Set Requirement
Students to prepare an audit program on PPE for Grace Corporation .